Faroe Petroleum Company News
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Faroe Fights DNO Offer With Valuation Report
Wednesday, January 02, 2019Faroe Petroleum says its value far surpasses a bid by DNO ASA.
DNO Withdraws Request For Faroe Board Seats As Conflict Escalates
Monday, August 27, 2018DNO withdrew its request for seats on the board of Faroe Petroleum amid an escalating war of words between the companies.
Independents Go Big in North Sea
Wednesday, January 03, 2018While some majors are still involved in the North Sea, notably Statoil, the age of the independents is clearly on the ascendancy.
Drilling of Well at Fogelberg Gas Discovery to Start in Feb/March -Centrica
Friday, September 01, 2017Norwegian company Island Drilling has won the drilling contract, Centrica said.
Japan's JX To Sell North Sea Oil Field Stake To Faroe Petroleum
Friday, July 28, 2017JX Nippon Oil and Gas Exploration Corp says that its UK-based subsidiary has agreed to sell a stake in a North Sea oil field to Faroe.
Faroe: Bone Exploration Well in Barents Sea Spud
Thursday, January 12, 2017Independent oil and gas firm Faroe Petroleum announces the commencement of the Bone exploration well 7318/12-1, which is located in the western part of the Norwegian Barents Sea.
Faroe Completes Acquisition of DONG North Sea Asset Interests
Wednesday, December 07, 2016Faroe Petroleum completes its acquisition of interests in 5 Norwegian North Sea producing oil and gas fields from DONG E&P Norge AS.
Centrica: Oda Field to see $634M Investment, Will Create 5,500 Jobs
Wednesday, November 30, 2016Centrica plc, along with its license partners, has pledged to invest $634 million for the development to the Oda field, which it says will generate thousands of jobs over its lifetime.
Faroe to Increase CAPEX in 2017
Wednesday, October 19, 2016Independent oil and gas company Faroe Petroleum has announced plans to increase its net capital expenditure for production assets in 2017.
Faroe Petroleum: Oil, Gas Discovery Made in Norwegian Sea
Tuesday, October 18, 2016An oil and gas discovery has been made at the Njord North Flank in the Norwegian Sea, says independent oil and gas company Faroe Petroleum.
Statoil Spuds NF-2 Well in Norwegian Sea
Tuesday, August 16, 2016Statoil spuds the Njord North Flank-2 (NF-2) exploration well, located in license PL107C in the Norwegian Sea.
Faroe Petroleum Secures LO 16/23
Thursday, July 07, 2016Faroe Petroleum confirms it has been awarded Licensing Option 16/23 under Ireland's 2015 Atlantic Margin Licensing Round.
NPD Grants Faroe Petroleum Drilling Permit for Well 31/7-1 A
Tuesday, June 21, 2016The Norwegian Petroleum Directorate has granted Faroe Petroleum Norge AS a drilling permit for well 31/7-1 A, located offshore Norway.
Faroe Petroleum Discovers Oil, Gas at Brasse Well
Thursday, June 16, 2016Faroe Petroleum discovers oil and gas through its Brasse exploration well in license PL740 in the Norwegian North Sea.
NPD Grants ENGIE Drilling Permit Offshore Norway
Tuesday, June 07, 2016The Norwegian Petroleum Directorate grants ENGIE E&P Norge AS a drilling permit for well 36/7-4, located offshore Norway in production license 636.
Ireland Awards 14 New Licensing Options
Friday, June 03, 2016Ireland's department of natural resources announces the offer of 14 new licensing options in the Irish offshore following the conclusion of the 2015 Atlantic Margin Licensing Round.
Faroe Petroleum, Wintershall Receive Consent to Drill North Sea Wells
Wednesday, May 11, 2016Petroleum Safety Authority Norway grants Faroe Petroleum and Wintershall consent to drill 2 separate North Sea wells.
Wintershall Comes Up Dry with Kvalross Well
Wednesday, February 24, 2016Wintershall's Kvalross exploration well in the Norwegian sector of the Barents Sea turns out to be uncommercial.
Faroe to Drill 3 Exploration Wells in 2016 despite Oil Price
Friday, February 05, 2016Junior oil firm Faroe Petroleum will be involved in three exploration wells offshore Norway in spite of the low oil price.
Faroe Petroleum Secures 6 New Exploration Licenses on NCS
Wednesday, January 20, 2016Faroe Petroleum is awarded 6 new prospective exploration licenses, including 2 operatorships, under the 2015 Norwegian APA License Round on the Norwegian Continental Shelf.
Faroe Petroleum: Drilling Begins at Kvalross Well
Tuesday, January 12, 2016Drilling commences on the Kvalross exploration well 7224/2-1, which is located in PL611 in the Norwegian Barents Sea.
North Sea: Indies, Juniors Driving Exploration, Development in 2016
Tuesday, January 12, 2016Rigzone takes a look at the 2016 exploration and field development plans of junior and independent oil and gas firms focused on the North Sea region.
Faroe Petroleum Almost Doubles 2P Reserves
Wednesday, January 06, 2016Faroe Petroleum registers a 98% increase in 2P reserves over the year, according to an independent technical report carried out by Senergy (GB) Limited.
Faroe Petroleum Secures Drilling Rig for Brasse Well in Norway
Thursday, December 17, 2015Faroe Petroleum secures a rig to drill the Brasse prospect in Norway next summer.
Faroe Completes Roc Oil Acquisition
Friday, November 06, 2015Faroe Petroleum completes its acquisition of Roc Oil, boosting its stakes in the UK North Sea Blane and Enoch units to 30.5 percent and 13.9 percent respectively.
Energy Firms Team Up to Cut North Sea Costs
Wednesday, November 04, 2015Petrofac, Faroe Petroleum and Eni Hewett establish a cost saving partnership to drive efficiencies and commercial synergies across their UK operations in the Southern North Sea.
Faroe Petroleum: No Hydrocarbons at Blink, 2016 Exploration Decreased
Tuesday, November 03, 2015Following disappointing results at the Blink exploration well in the Norwegian Sea, Faroe Petroleum decreases its exploration activity in 2016.
VNG Norge Spuds Blink Prospect Well in Norwegian Sea
Wednesday, September 23, 2015Faroe Petroleum reports that its partner VNG Norge has spud a new well targeting the Blink prospect in the Norwegian Sea.
Faroe Petroleum: Operating Profit, Production Increase
Tuesday, September 22, 2015Faroe Petroleum increases production and turns operating loss to operating profit in the first half of 2015.
Faroe Petroleum: Portrush Exploration Well Dry
Friday, September 11, 2015Faroe Petroleum announces that the Portrush exploration well 6407/10-5 in the Norwegian Sea has come up dry.
Faroe Petroleum Acquires North Sea Interests for $20M
Tuesday, September 01, 2015Faroe Petroleum announces its conditional acquisition of Roc Oil (GB Holdings) Limited for a payment that could total up to $20 million.
Petrofac Secures Contract to Support ONE in Southern North Sea
Thursday, June 04, 2015Petrofac secures contract to support Oranje-Nassau Energie (ONE) UK Limited, following the Oranje-Nassau Energie B.V. subsidiary's announcement that it has become the operator of the Sean gas field in Southern North Sea.
Statoil Spuds Bister Well in Norwegian Sea
Tuesday, April 28, 2015Statoil spuds the Bister exploration well in the Norwegian Sea, according to Faroe Petroleum.
Total's Skirne East Well Finds Gas Offshore Norway
Friday, April 10, 2015Tota's Skirne East exploration well in the Norwegian North Sea finds recoverable gas of up to 10 million barrels oil equivalent.
Shango Well Spuds in the Norwegian North Sea
Monday, March 16, 2015Total begins drilling the Shango exploration well in the Norwegian North Sea.
Faroe Petroleum Expects To Raise Exploration Capex In 2015
Thursday, January 22, 2015Junior oil firm Faroe Petroleum expects its pre-tax exploration and appraisal capital spending to increase in 2015.
Faroe, Lundin, Cairn Score Norway License Wins
Wednesday, January 21, 2015Faroe Petroleum and Lundin Petroleum issue details of licenses they have secured in Norway's latest offshore licensing round.
Faroe Completes Sale of Glenlivet Stake
Tuesday, November 25, 2014Faroe Petroleum sells its 10-percent stake in the West of Shetland Glenlivet field for $15.7 million.
Faroe, Enegi Pick up Licenses in 28th UK Round
Friday, November 07, 2014Faroe Petroleum and Enegi Oil are awarded licenses in the UK's 28th Offshore Licensing Round.
Faroe Completes Acquisition of Schooner and Ketch Fields
Friday, October 10, 2014Faroe Petroleum acquires from Tullow Oil majority interests in the Schooner and Ketch fields in the UK zone of the southern North Sea.
Faroe Wins Irish Licensing Options
Monday, October 06, 2014Faroe Petroleum wins three licensing options from the Irish government covering a shallow water area off the southern coast of Ireland in the Celtic Sea.
Wood Mac: 10B Barrels of Undeveloped Resources on NCS
Tuesday, August 26, 2014Research firm Wood Mackenzie says there are 10 billion barrels of hydrocarbons on the Norwegian Continental Shelf, of which 60% could be commercialized.
Butch South West Well Spuds
Monday, June 02, 2014Drilling begins on the Butch South West well in the Norwegian North Sea
Centrica Comes up Dry at Butch East Well
Monday, May 12, 2014Centrica fails to find hydrocarbons at its Butch East exploration well in the Norwegian North Sea.
Faroe Buys North Sea Assets from Tullow
Wednesday, April 30, 2014Faroe acquires 60% operated interests in the Ketch and Schooner gas fields in the UK North Sea.
VNG's Pil Well Flows at 6,710 Bopd
Thursday, April 10, 2014VNG Norge flows the Pil well in the Norwegian Sea on the P586 license at 6,710 barrels of oil per day.
Faroe Expects Lower Production in 2014
Tuesday, March 25, 2014Faroe Petroleum gives a lower production guidance for 2014 as it continues its high-impact exploration campaign.
VNG Norge Hits Oil, Gas with Pil Well
Thursday, March 06, 2014VNG Norge finds 443 feet of oil and 299 feet of gas with its Pil well in the Norwegian Sea.
Faroe Ups its Estimated Reserves, Resources
Thursday, February 06, 2014Faroe Petroleum upgrades its reserves and resources by more than 30% ahead of four high-impact drills in early 2014.
Wintershall Spuds Solberg Well in Norwegian Sea
Monday, February 03, 2014German independent explorer Wintershall begins drilling the Solberg well in the Norwegian Sea.